BioNTech to Acquire InstaDeep for ~$683M
Shots:
- InstaDeep to receive $440M up front & BioNTech shares, excl. the shares already owned by BioNTech, ~$243M in additional milestones. The transaction is expected to be close in H1’23
- The acquisition builds on a 2020 collaboration where both companies established a joint AI Innovation Lab to apply AI & ML technology for novel therapies in different cancers & infectious diseases. The recent acquisition strengthens BioNTech's capabilities in AI-driven drug discovery & development of next-generation immunotherapies & vaccines using AI and ML technologies
- BioNTech will enhance its network of research collaborators & expand its footprint in the US, EU, Africa & the Middle East. The companies developed multiple end-to-end AI-based applications
Ref: BioNTech | Image: BioNTech
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Neha is a Senior Editor at PharmaShots. She is passionate and very enthusiastic about recent updates and developments in the life sciences and pharma industry. She covers Biopharma, MedTech, and Digital health segments along with different reports at PharmaShots. She can be contacted at connect@pharmashots.com.
